> For the complete documentation index, see [llms.txt](https://hyperliquid-co.gitbook.io/wiki/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://hyperliquid-co.gitbook.io/wiki/architecture/hypercore/hips.md).

# HIPs

### **What are HIPs?**

**Hyperliquid Improvement Proposals (HIPs)** are initiatives designed to enhance the functionality, performance, and user experience of the Hyperliquid L1 blockchain and its ecosystem. 

Each HIP outlines a specific improvement, offering a transparent and standardized process for introducing new features or standards into the protocol—much like **EIPs** (Ethereum Improvement Proposals) for Ethereum.

**At this time, three primary HIPs have been implemented:**

* **HIP-1:** Establishes a **native token standard** on the Hyperliquid L1, similar to ERC-20 on Ethereum-based networks.
* **HIP-2:** Introduces **Hyperliquidity**, a built-in, on-chain **Automated Market Maker (AMM)** mechanism designed to bootstrap and maintain efficient markets for newly deployed tokens.
* **HIP-3:** Enables **permissionless perpetual deployments**, allowing anyone to create their own perp markets on Hyperliquid.

As the Hyperliquid ecosystem continues to grow and mature, additional HIPs are expected to emerge. While the initial HIPs have come from the core team, **future proposals are expected to be open to the community.**